National Debt - $9 Trillion Dollars Screams the Headline

Yeah, it's been going up and it is worrying to a lot of people. But it is not the worse it's been. Today the national debt is 65 per cent of the nation's GDP (Gross Domestic Product), very close to a recent high of 67 per cent in 1996 when President Clinton was in office even though it was never the United States' highest national debt. In 1946 it was $270 billion or 122 per cent of GDP. But of course, the article screamed that the national debt would be the equivalent of 28 Eiffel Towers made of pure gold. Ironically, France's own debt according to last year's article for 2004 debt:

France's debt reached 1.067 trillion euros (1.3 trillion US dollar), or 64.7 percent of GDP last year, above the EU limit of 60 percent for a second year. It's forecast to exceed 66 percent this year (2005).

And that's while France's economy was growing at 1.4% a year along with high unemployment rates at 10% for 2004. Many are saying that France's debt is spiraling out of control. Indeed. Not to mention another ticking time bomb when France's Muslim population makes up 10% of France's own population and some have projected that in 25 years Muslims will be the majority population in France.

And you thought we have problems? More french fries anyone?